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Veren Inc T.VRN

Alternate Symbol(s):  VRN

Veren Inc. is a Canada-based oil producer with assets in central Alberta and southeast and southwest Saskatchewan. The principal activities of the Company are acquiring, developing and holding interests in petroleum and natural gas properties and assets related thereto through a general partnership and wholly owned subsidiaries. Its core operational areas include Kaybob Duvernay and Alberta Montney, Shaunavon and Viewfield Bakken. Its Kaybob Duvernay is situated in the heart of the condensate rich fairway, Central Alberta, which provides low risk drilling inventory. Its Alberta Montney assets sit adjacent to its Kaybob Duvernay lands, possessing similar resource characteristics including pay thickness and permeability in the volatile oil fairway of the reservoir. Its Shaunavon resource play is located in southwest Saskatchewan. The Viewfield Bakken light oil pool is located in Saskatchewan.


TSX:VRN - Post by User

Comment by Anschutzon Mar 05, 2021 7:32pm
295 Views
Post# 32734737

RE:Technical Insight™

RE:Technical Insight™Your point about the CCI is correct, however consider this.  Here's a chart of CPG current as of today.  I marked out ranges using the CCI.  The start of each range is where CCI hit and went above 70; the end of each range is where the CCI dropped back below 70.  With the uptrend CPG has been in, you could have captured $4.80 of gains just by playing the CCI. 

Looking at where we are today I think the CCI could still have a bit of room to run before dropping back.  Perhaps we see a bit of a pull back next week.

That being said, with Saudi Arabia and Russia basically having told the world this week to go pound sand; COVID winding down; states re-opening; and the spring/summer driving season soon upon us, I think the stars are aligned for a continued run.  I don't see anything on the immediate horizon to suggest the trend is reversing.  If anything I think there's  greater likelihood we see a dust up in the middle east that pushes oil higher.

In any event... it's always the black swans we never see coming. For all I know the world will discover free energy on Saturday and the price of oil will crash Sunday night.

Sorry if you missed the run however the good news is that it's not over!  Have a good weekend.

CPG-CCI


juvefooballclub wrote:

Commodity Channel Index (CCI)

Implication

Recognia identifies the following CCI events:

  • A bullish event when the CCI rises above the +100% line.
                 .

Typically, if the price is greater than the moving average, then the CCI will rise towards or above the 100% line. If the price drops below the moving average, then the CCI will drop towards or past the -100% line.

 



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